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8 partners and 30 cr is extremely good. KCO already pays very good after A0 level, you the firm you are describing seems very very good along with the 2 day wfh.
because when you get old you dont get a salary, you need clients. you can only get clients if you know the practice area inside out. Hence people go there to learn.
But Anand and Remfry T1 teams still pay peanuts compared to Tri or SAM. So why should good people go there?
OP here – it’s a boutique M&A/PE/VC – corp set up, and salary + bonus is around 80% of KCO level, but has 2 days of WfH and other flex.
Generally the tiers referred to on this website are as per pay scales only.

The remaining factors are important but not necessarily considered when we label a firm as a T1 or a T2 or something.